Mause I 227
Economy/New Political Economy/Public Choice: unlike post-Keynesianism and neoclassics, the New Political Economy assumes that economic policy-makers have sufficient control possibilities. As a result, fluctuations in the sense of political economic cycles are deliberately accepted in order to create a positive macroeconomic environment - particularly on the labour markets - in the run-up to upcoming elections, which significantly increases the chances of political leaders being re-elected. (1)(2)

1. William D. Nordhaus, The political business cycle. Review of Economic Studies 42, (2), 1975, S. 169– 190.
2. W. D. Nordhaus, Alternative approaches to the political business cycle. Brookings Papers on Economic Activity 2, 1989, S. 1– 68._____________Explanation of symbols: Roman numerals
indicate the source, arabic numerals indicate
the page number. The corresponding books
are indicated on the right hand side.
((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.